AOC suggests expanding federal EV tax credits to cover electric bikes
The Democrats' Inflation Reduction Act includes a tax credit of up to $7,500 for EV sedans under $55,000 and SUVs under $80,000
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New York Democratic Rep. Alexandria Ocasio-Cortez suggested that the federal tax credits available for electric vehicles should be expanded to cover electric bicycles.
The Democrats' Inflation Reduction Act, which passed last year, includes a tax credit of up to $7,500 for EV sedans under a retail price of $55,000 and SUVs under $80,000 that took effect Jan. 1.
Democrats have argued that the tax credits would help Americans afford electric vehicles. Ocasio-Cortez, a member of the House Oversight and Government Reform Committee, was asked if she thinks the $80,000 cap for electric SUVs to qualify for the tax credit is too high.
"I'd certainly like to also see an expansion into EV bikes as well and more affordability for lower tier options," she said during an interview Tuesday evening on Capitol Hill.
The Washington D.C. City Council is considering providing residents with $400 for electric bikes.
Ocasio-Cortez was also asked for her reaction to President Biden's State of the Union address and whether she wanted to hear more from him in certain areas.
"I think that the speech was strong," she said. "Of course, there were certain points that I thought were especially compelling: a billionaire's tax and quadrupling the tax on stock buybacks, but I, of course, think they should be banned, but I'll take a quadrupling of the tax rate."
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